Chesapeake Gold almost ready for Metates PFS

Chesapeake Gold expects to be able to start a prefeasibility study on its Metates project in Durango, Mexico early in 2024, once it has concluded column tests for its potential leach processing route, chief executive Alan Pangbourne told Mining Journal at the 2023 Precious Metals Summit in Beaver Creek, Colorado, USA.

The company is developing a proprietary alkaline leach to heap leach the refractory ore. The company has previously proven its approach works and aims to increase the recovery it obtains.

The current testwork has identified parameters that provide the conditions where the leach technology oxidises mineralisation at a faster rate than the previous testwork.

"Under these conditions, we believe the targeted oxidation curve will be achieved and provide the foundation for preparing the pre-feasibility study early next year. In the first quarter, I anticipate having the results that show we have a flowsheet that works, said Pangbourne.

The metallurgy is the remaining element the company needs to undertake a PFS. The Metates resource is at a level that can be converted into reserves, and the flow sheet used in the preliminary economic assessment will remain the same.

"There is nothing in this alkali process that is not in the PEA flow sheet. We will still be crushing to half an inch, with two-stage oxidation and then heap leach. We will rerun the economics, capital costs and operating costs," said Pangbourne.